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Thread: Update re retirement

  1. #11
    Senior Member razz's Avatar
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    Gimme, you won't be retiring for a few years.

    IMHO, every decade has very traumatic turbulence with unexpected triggers and consequences for the average person.

    The 1970's had the oil embargo;

    the 80's had the crazy interest rates plus https://theweek.com/articles/486362/...icas-jobs-went..
    "When did offshoring become so prevalent?
    The trend began in earnest in the late 1970s at large manufacturers such as General Electric. GE’s then CEO, Jack Welch, who was widely respected by other corporate chieftains, argued that public corporations owe their primary allegiance to stockholders, not employees [or their communities]. Therefore, Welch said, companies should seek to lower costs and maximize profits by moving operations wherever is cheapest. “Ideally,” Welch said, “you’d have every plant you own on a barge to move with currencies and changes in the economy.” Not only did GE offshore much of its manufacturing, so did its parts suppliers, which were instructed at GE-orchestrated “supplier migration seminars” to “migrate or be out of business.”

    by the 90's many jobs were gone, communities suffered from lack of jobs, opportunities and the social consequences of it all but those shareholders who bought the stock because they were employed were rewarded. Add in the turbulence of the Y2K accommodation and then;

    the 2008 worldwide financial disaster enacted by greedy financial thieves, few of whom were penalized and;

    now add in the 2020 costly trauma from covid with the poor and certain jobs suffering the most consequences in addition to droughts and tornadoes and hurricanes from climate change.

    You cannot plan far ahead in the US or Canada but try to build a buffer against a huge disaster not of your making. Going to a country with which you are not familiar and expecting that country to be stable after a long history of being politically unsettled is perhaps not the best choice. You have no idea of what the future holds anymore than anyone else. Every decade has its problems caused by forces over which you have no control. Who knows what lies ahead over the coming decades? The US has weathered many challenges and has the resources to withstand them.
    As Cicero said, “Gratitude is not only the greatest of virtues, but the parent of all the others.”

  2. #12
    Senior Member iris lilies's Avatar
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    When I think about cheap places to retire, it is never south of the border in the United States.


    It is always Asia or eastern Europe. And that is mainly because I like those cultures. But the OP has a working knowledge of Spanish so that is good and I have a working knowledge of none of the language is used in cheap places to retire that I think of. On the other hand, I am retiring in Hermann Missouri which is pretty damn cheap. Total housing cost if I never wanted to upgrade anything and just live in a house the way it is, would be around 2200 a year. That does not include telecommunications utilities however but it includes everything else Dash water Dash gas Dash electric.

    I’m never attracted to those coastal high-rise condos that retirees seem to flock to.

  3. #13
    Senior Member Teacher Terry's Avatar
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    Retirement in a cheap place is not one of my goals. It’s more important for me to be around family and friends. I don’t want to rebuild my life at this age.

  4. #14
    Senior Member razz's Avatar
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    Quote Originally Posted by iris lilies View Post
    When I think about cheap places to retire, it is never south of the border in the United States.


    It is always Asia or eastern Europe. And that is mainly because I like those cultures. But the OP has a working knowledge of Spanish so that is good and I have a working knowledge of none of the language is used in cheap places to retire that I think of. On the other hand, I am retiring in Hermann Missouri which is pretty damn cheap. Total housing cost if I never wanted to upgrade anything and just live in a house the way it is, would be around 2200 a year. That does not include telecommunications utilities however but it includes everything else Dash water Dash gas Dash electric.

    I’m never attracted to those coastal high-rise condos that retirees seem to flock to.
    $2200 per year? Really !!!!! A month maybe? My C$ monthly cost to live including utilities let's see. I have not calculated it recently.
    Adding taxes, groceries, insurance for house and car, utilities, tech with some extra and to include some home maintenance plus dog's care and food works to an average of $1500/mth in a paid for home. I would not move ever until unable to maintain my home on my own with possibly some services contracted like lawn care and snow removal. I have access to all services if no longer able to drive but still able to walk.
    As Cicero said, “Gratitude is not only the greatest of virtues, but the parent of all the others.”

  5. #15
    Senior Member Tradd's Avatar
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    Quote Originally Posted by Teacher Terry View Post
    Retirement in a cheap place is not one of my goals. It’s more important for me to be around family and friends. I don’t want to rebuild my life at this age.
    Agreed. What if you move and then have health issues and need help? No one is close to you. Expecting people to travel to help you is selfish.

  6. #16
    Senior Member iris lilies's Avatar
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    Quote Originally Posted by razz View Post
    $2200 per year? Really !!!!! A month maybe? My C$ monthly cost to live including utilities let's see. I have not calculated it recently.
    Adding taxes, groceries, insurance for house and car, utilities, tech with some extra and to include some home maintenance plus dog's care and food works to an average of $1500/mth in a paid for home. I would not move ever until unable to maintain my home on my own with possibly some services contracted like lawn care and snow removal. I have access to all services if no longer able to drive but still able to walk.
    Hermann house:

    Taxes are $1,100 annually

    utilities that are necessesities are, ok more than $100 monthly. Wish I had the bills here. Probably normal month is $125 -$150, high heat months or high air cooling months are $200-$215.

    So you are right, $3,000 - $ 3,500 annually to maintain this house is more like it.

    I’m not including gasoline for the car, any car cost, any pet costs, any groceries, any travel od ANY other costs of living. . I’m including only the cost of this abode. But this is a house in rather rough condition and most of you would not live here.

  7. #17
    Senior Member razz's Avatar
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    Your annual property tax is 1/3 of mine. I based the calculations on general cost of living a normal life. My theatre tickets, travel and social activities which are more of a choice than the basic necessities of living do add up.
    My house was completed in 2014. I finished the downstairs basement, added a brick patio and finished the chain link fencing plus basic landscaping. It will need a new roof in about 6-10 years, possibly a new garage door, new hot water tank but little else. A few years ago, I looked at the AARP checklist for senior accommodation and my house met just about all the criteria except the wheelchair accessible doorways and shower. I love my little house!
    As Cicero said, “Gratitude is not only the greatest of virtues, but the parent of all the others.”

  8. #18
    Senior Member GeorgeParker's Avatar
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    Quote Originally Posted by iris lilies View Post
    I am retiring in Hermann Missouri which is pretty damn cheap. Total housing cost if I never wanted to upgrade anything and just live in a house the way it is, would be around 2200 a year. That does not include telecommunications utilities however but it includes everything else - water - gas - electric.
    $2200/year is $183.33 per month. There is no way you could cover property tax, homeowners insurance, water, gas, and electric for that. And renting would have all the same expenses, just hidden inside your monthly rent payment.

    According to https://www.bestplaces.net/cost_of_l.../hermann/65041 the cost of living (including housing expense) in Hermann Missouri is 85.8% of the national average and the median house price is $153,200. It looks like either you dropped a zero (meaning it should be $22,000/year) or your translation software messed up the number.

    $183.33 per month simply isn't possible unless you're living in a rundown cabin in the woods, sharing the house with several other people, or renting a room in a boarding house that doesn't provide food.

    So, please proofread and clarify.

  9. #19
    Senior Member iris lilies's Avatar
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    Quote Originally Posted by GeorgeParker View Post
    $2200/year is $183.33 per month. There is no way you could cover property tax, homeowners insurance, water, gas, and electric for that. And renting would have all the same expenses, just hidden inside your monthly rent payment.

    According to https://www.bestplaces.net/cost_of_l.../hermann/65041 the cost of living (including housing expense) in Hermann Missouri is 85.8% of the national average and the median house price is $153,200. It looks like either you dropped a zero (meaning it should be $22,000/year) or your translation software messed up the number.

    $183.33 per month simply isn't possible unless you're living in a rundown cabin in the woods, sharing the house with several other people, or renting a room in a boarding house that doesn't provide food.

    So, please proofread and clarify.
    see adjustment above. But that doesn't include insurance, forgot that, ‘ tho insurance is cheap but yeah, more added.

    Oh you people, you want accuracy from me! Demanding bunch you are, haha.


    I will work on it and get all the basic costs tied to our Hermann house of 1,200- 1,400 square-foot lay it out. It’s still pretty cheap and it’s cheaper than buying comparable property in Eastern Europe.
    Meanwhile, you can chew on the fact that we are doing a giant major renovation to this house and will have amount of money in it that I don’t know how much it will be. DH says we’re putting in $175,000 I say it could well go over $200,000. That plus the initial purchase price means we will have around $300,000 into it.

    And we will be able to get $175,000 for it. Like I say, Herman is cheap.
    There’s a reason the current exodus from expensive cities sees people heading to Missouri as one of the top five or six states.

  10. #20
    Senior Member iris lilies's Avatar
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    Quote Originally Posted by GeorgeParker View Post
    $2200/year is $183.33 per month. There is no way you could cover property tax, homeowners insurance, water, gas, and electric for that. And renting would have all the same expenses, just hidden inside your monthly rent payment.

    According to https://www.bestplaces.net/cost_of_l.../hermann/65041 the cost of living (including housing expense) in Hermann Missouri is 85.8% of the national average and the median house price is $153,200. It looks like either you dropped a zero (meaning it should be $22,000/year) or your translation software messed up the number.

    $183.33 per month simply isn't possible unless you're living in a rundown cabin in the woods, sharing the house with several other people, or renting a room in a boarding house that doesn't provide food.

    So, please proofread and clarify.
    Also I have no house payment. The average cost of living you quote probably includes mortgage payments. I don’t have one.

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